Huntington Bancshares Incorporated (NASDAQ:HBAN) CEO Stephen D. Steinour Acquires 18,000 Shares

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Huntington Bancshares Incorporated (NASDAQ:HBAN) CEO Stephen D. Steinour bought 18,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was bought at an average cost of $13.33 per share, with a total value of $239,940.00. Following the transaction, the chief executive officer now directly owns 5,142,348 shares of the company’s stock, valued at $68,547,498.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ HBAN opened at $13.54 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market cap of $14.05 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.11 and a beta of 1.37. Huntington Bancshares Incorporated has a 52-week low of $11.12 and a 52-week high of $16.52.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Huntington Bancshares had a return on equity of 14.20% and a net margin of 26.24%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.14 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.14%. Huntington Bancshares’s payout ratio is currently 46.67%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new stake in shares of Huntington Bancshares in the fourth quarter valued at $25,000. JOYN Advisors Inc. lifted its holdings in shares of Huntington Bancshares by 207.5% in the fourth quarter. JOYN Advisors Inc. now owns 2,079 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,403 shares in the last quarter. FTB Advisors Inc. lifted its holdings in shares of Huntington Bancshares by 1,100.5% in the fourth quarter. FTB Advisors Inc. now owns 2,401 shares of the bank’s stock valued at $28,000 after purchasing an additional 2,201 shares in the last quarter. We Are One Seven LLC purchased a new stake in shares of Huntington Bancshares in the fourth quarter valued at $29,000. Finally, Transamerica Financial Advisors Inc. lifted its holdings in shares of Huntington Bancshares by 562.0% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 2,721 shares of the bank’s stock valued at $33,000 after purchasing an additional 2,310 shares in the last quarter. Institutional investors own 75.98% of the company’s stock.

HBAN has been the topic of several recent analyst reports. ValuEngine upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Zacks Investment Research upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. Argus initiated coverage on Huntington Bancshares in a research note on Friday, May 31st. They issued a “hold” rating on the stock. Finally, BidaskClub upgraded Huntington Bancshares from a “strong sell” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $16.10.

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About Huntington Bancshares

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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